Sequoia Financial Advisors LLC Has $450,000 Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Sequoia Financial Advisors LLC grew its position in Spotify Technology S.A. (NYSE:SPOT) by 17.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,221 shares of the company’s stock after buying an additional 184 shares during the period. Sequoia Financial Advisors LLC’s holdings in Spotify Technology were worth $450,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Clearbridge Investments LLC boosted its position in shares of Spotify Technology by 0.6% in the 1st quarter. Clearbridge Investments LLC now owns 6,892 shares of the company’s stock worth $1,819,000 after purchasing an additional 38 shares during the last quarter. Cigna Investments Inc. New boosted its position in shares of Spotify Technology by 3.3% in the 2nd quarter. Cigna Investments Inc. New now owns 1,260 shares of the company’s stock worth $395,000 after purchasing an additional 40 shares during the last quarter. Moody Lynn & Lieberson LLC boosted its position in shares of Spotify Technology by 0.6% in the 2nd quarter. Moody Lynn & Lieberson LLC now owns 6,843 shares of the company’s stock worth $2,147,000 after purchasing an additional 40 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Spotify Technology by 86.0% in the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after purchasing an additional 43 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Spotify Technology by 4.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 981 shares of the company’s stock worth $337,000 after purchasing an additional 43 shares during the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on SPOT. Cantor Fitzgerald restated a “neutral” rating and issued a $340.00 price target on shares of Spotify Technology in a research report on Monday, October 7th. Evercore ISI raised their price target on Spotify Technology from $420.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Bank of America lifted their target price on Spotify Technology from $370.00 to $380.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. The Goldman Sachs Group upgraded Spotify Technology from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $320.00 to $425.00 in a report on Wednesday, July 24th. Finally, Wolfe Research initiated coverage on Spotify Technology in a report on Friday, July 12th. They set an “outperform” rating and a $390.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $369.43.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $379.16 on Monday. The business’s 50 day moving average price is $357.03 and its two-hundred day moving average price is $326.04. The company has a market cap of $72.12 billion, a PE ratio of -565.91 and a beta of 1.58. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31. Spotify Technology S.A. has a twelve month low of $155.00 and a twelve month high of $389.48.

About Spotify Technology

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.